The Manufacturers Life Insurance Company Buys New Position in Silvercorp Metals Inc. $SVM

Key Points

• The Manufacturers Life Insurance Company acquired 197,674 shares of Silvercorp Metals, worth approximately $2.0 million, giving it a 0.09% stake. Institutional investors collectively own 22.3% of the company.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average price target of $10.75; Roth Capital recently raised its target to $14.
• Silvercorp shares opened at $12.78 after gaining 7.4%. In its latest quarter, the company met EPS estimates at $0.21 and reported $138.67 million in revenue, while analysts expect full-year EPS of $0.66.

The Manufacturers Life Insurance Company bought a new stake in shares of Silvercorp Metals Inc. (NYSEAMERICAN:SVM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 197,674 shares of the company's stock, valued at approximately $1,998,000. The Manufacturers Life Insurance Company owned 0.09% of Silvercorp Metals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in shares of Silvercorp Metals in the 2nd quarter worth approximately $47,000. Banque Cantonale Vaudoise acquired a new position in Silvercorp Metals in the first quarter valued at $69,000. Employees Retirement System of Texas acquired a new position in Silvercorp Metals in the fourth quarter valued at $61,000. Leonteq Securities AG bought a new stake in Silvercorp Metals during the first quarter valued at $79,000. Finally, EverSource Wealth Advisors LLC boosted its position in Silvercorp Metals by 18.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,503 shares of the company's stock valued at $63,000 after acquiring an additional 1,170 shares during the last quarter. Institutional investors own 22.30% of the company's stock.

Wall Street Analysts Forecast Growth

SVM has been the subject of several research analyst reports. Jefferies Financial Group raised Silvercorp Metals to a "buy" rating in a research report on Monday, June 15th. Zacks Research lowered Silvercorp Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Roth Capital reaffirmed a "buy" rating and set a $14.00 target price (up from $13.50) on shares of Silvercorp Metals in a research note on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Silvercorp Metals Stock Up 7.4%

Silvercorp Metals stock opened at $12.78 on Thursday. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 106.51 and a beta of 1.22. The firm's fifty day moving average price is $10.76 and its two-hundred day moving average price is $11.45. Silvercorp Metals Inc. has a 1-year low of $4.81 and a 1-year high of $15.77. The company has a current ratio of 3.51, a quick ratio of 3.46 and a debt-to-equity ratio of 0.10.

Silvercorp Metals (NYSEAMERICAN:SVM - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Silvercorp Metals had a net margin of 6.32% and a return on equity of 18.34%. The company had revenue of $138.67 million during the quarter, compared to the consensus estimate of $138.70 million. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, equities research analysts predict that Silvercorp Metals Inc. will post 0.66 earnings per share for the current fiscal year.

About Silvercorp Metals

Silvercorp Metals Inc is a Canadian-based precious metals company engaged in silver, lead and zinc production. The company's core operations are located in the provinces of Henan and Guangxi in the People's Republic of China, where it operates several underground mining and milling facilities. Silvercorp focuses on low‐cost, high‐grade silver projects, producing concentrates that are sold to smelting partners under long‐term offtake arrangements.

The company's principal assets include the Ying Mining District in Henan Province, which hosts multiple sub‐district mines, and the GC and HPG silver‐lead‐zinc projects in Guangxi Province.

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